Business
Interim Results to 30 June 06
Interim Results to 30 June 06.
About this update from Tower Resources Plc
[{"type":"text","content":"\n Tower Resources PLC\n20 September 2006\n\n\nInterim Results for the Six Months Ended 30 June 2006\n\n20 September 2006\n\nTower Resources plc ('Tower' or 'the Company')\n\nTower (AIM:TRP), an international oil and gas exploration company, headquartered\nin London, traded on the London Stock Exchange Alternative Investment Market,\ntoday announces its Interim Results for the six months ended 30 June 2006.\n\nTower Resources has continued to make good progress with its exploration\nevaluation activities in both Uganda and Namibia.\n\n • Recent oil discoveries have established Uganda as a new oil province\n\nThe results of technical work, including gravity/magnetic mapping and\ngeochemical analysis, have been very positive, supporting the Company's\nprediction that the prospective region of Block 5 contains mature source rocks\nand significant structural closures. The recent discoveries by Hardman and\nTullow in Block 2 100 miles to the south has provided added encouragement.\n\n • Evaluation work on Namibian interests has confirmed commercial potential\n\n\nA major interpretation study of seismic data over the Company's Namibian\noffshore licence has been completed showing multiple structures of potentially\ncommercial significance. Geochemical analysis has confirmed the presence of a\nnumber of potentially mature source rocks. More advanced seismic investigation\nis being undertaken and an intensive farm out programme should be ready to start\nwithin the next two months.\n\nRussell Langusch, Executive Director, commented: Tower is making good progress\nin evaluating its two African licences and is greatly encouraged by the positive\nresults of evaluation work to date. We look forward to introducing partners to\nassist in meeting forward operational commitment in the coming months.\n\nEnquiries :\n\nTower Resources plc\nRussell Langusch, Executive Director 07840 523771\nPeter Kingston, Chairman 01373 837223\n\nCorporate Synergy\nOliver Cairns 020 7448 4400\n\nAquila Financial Limited\nPeter Reilly 020 7202 2601\nRoss Bethell 020 7202 2603\nwww.aquila-financial.com\n\n\n\n\n\n TOWER RESOURCES PLC\n\n INTERIM STATEMENT\n\n FOR THE PERIOD ENDED 30 JUNE 2006\n\n\n\nTOWER RESOURCES PLC\n\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006\n\nCHAIRMAN'S STATEMENT\nDear Shareholder,\nYour Company continues to make good progress...